PEOPLES BUILDING SOCIETY

Wanganui Chronicle, Volume XLVIII, Issue 12366, 5 December 1904, Page 5

PEOPLES BUILDING SOCIETY

Th© third annual meeting of the above Society' was heild in Wiiiiiy' Hall on Friday, th© 2nd December, at 8 o'clock.

The following officers of the Society were present:—Mr. Hall (chairman) and the following directors: Messrs. Johns, McLeod, Purser, McKemzie, and the secretary.

:■ A fair number of the shareholders were present. : i\ilND JTES.—The minutes of the last annual meeting were read by the secretary. Mr. McFarlane moved that they be confirmed. This waa seconded by Mr. Forbes and duly cara-ied. REPORT AND BALANCE-SHEET.—

The report and balance-sheet for the past year iver© then read. The Chairman said during the year the direcio s' have been very carefuli, and adiso the valuers, in th© loans that have been made. Probably it wouM be noticed that now thiisngs are not so bright as they were, a few years ago, and therefore values are not now as good as they were. Money is getting harder and tighter, and tho prioe of money has increased, with the result Ifliato the properties are, of course, easier in price. Tho directors have taken all this into consideration, and one or two applications that have been anade" have been' refused. I have no doubt that some members felt rather •hurt at this; but still the directors must stiak© into consideration the fact that the Society must not look to the present - value, but to the future, and they must bo prepared to see that the Society is fully protected. He said he 'had tio return li'.'e thanks for th© kindly efforts, and assistance rendered to him by his fdiixnv directors, who were men who took a. thorough interest in the Society, and had done hill in their power to'heap it along, and they are no doubt sorry, that the members do not appreciate it' as iifc ought to be appreciated. He had great pleasure in moving tho adoption of the report and balance-sheet for th© year ending 31st October, 1904.—Mr. Purnell asked if the Society could give a 'guarantee to the present shareholders ao to the length of time they -would have to pay as a borrower and contributor.— The Chairman, in reply, siaid that itcutdreily depended on how the subscripions were paid.—Mr. Forbes spoke about the manner in which the directors were ejected. The ordinary shapehollders had ■practicably no say in the matter of telecting directors. He thought it would be better that th© nom'xiations should be submitted direct to the shareholders, and that tlhe shareholders should be able to nominate. . Th© bulk' of tho' shared holders did not know when there wa? a vacancy on the board of. doctors, and;, there were only one or two nominati-iiis sent :in, as the eas© may be. —The Chairman said it was quitte. true the members were not notified; through the post, although the •notice is7posted up in th© siecretaJ'y's office fourteen days before the annual .meeting. . He>, thoughti; it would :be well to give motucerof motion to alter that r.u'iie, so that, written notice shpuld be given-to eaclr shai^bMG^ that. the : election of directorsl would, close at such 'and such a date.^-The following notice, to be considered; at af,s^c'iall ■ meeting of the Society,- .was then proposed by Mr. Forbes: "That rule 22 shall be altered so. that written notice shall b9 sent to a,^l members t-hat the nominations for di-re-dtors shall close on a certain date." ELECTION OF DIRECTORS- The Chairman said thero had beein no outs'de nominations. The following were then ejected for -the term of two years: — Messrs.-H.T. Johns, A. McLeod, G. Spriggens, A. W. MoKenzie. During the past year Mr. Bird had retired, and Mr. Purser had been nominated in his S ELECTION OF AUDITOR..—Two names had bean submitted for elect, en —Messrsr. J. A. Butler and E. M. S>lk. Messrs. Purnoliland Dyer were appointed scrutineers to go through the voting papers, and the result was that Mr. J. A. Butler was elected. Mr. McFarlane said that he. would like to move a vote of thanks to fch>3 directors for their services during tho past year, and in doing so he regretted that there was not a Larger meeting of uio members, as he had intended to I rmg forward a motion that a sum bo granted to th© directors, not. so much a.s payment for their services, as in rscogait ion of their services for the past year lie •thought it unTeaeonatb'ie to expect th^ ir directors to meet month after month and give a considerabilo portion of their business tune to the business of the Society without some- slight recognlrkn, but if the Chairman thought the ti-eot-ing too small to pa* is sucli a vote he woif.d give notice of motion that this matter be 4,i§cu,ssed> at a. special general meeting, When Mr. Forbes 1 motion was brought forward. They would thus be a/dbiing in uniformity, with the societies of a sTmidar kind.—-The OhaJrma.ii said

that they would rather the luatter was* referred 'to a special meeting.—Mr.- Mo Farlane then gave no'tie^a of the following motion, to be moved at a speciaL general meeting of the Society:—"That the sum of £2 2s. be granted to the directors in recognition of and for thaiir i.ervices during the past year. Miv Forbes seconded Mr. MeFarlane's motion, which was carried by acclamation. The Chairman, speaking to the votes: of thanks and on behalif of the directors, said he had'to thank them very heartily for their kindly expressions that night. He could assure them that the> work of a director is one which cals for a considerable amount of consiideratiore and time. The dii-ectoi*s during the lastitwelve monthsi had done all in tiheirpower to advance the interests of theSociety.. In a-eituraing. thanks for the»kindly expressions, lie had also to titanic those who had helped1 to make the Society what it is.

While the seratinieers war© examining; the voting papers, the ballots for £450----were drawn., Messrs. Coles and Forbeswere nominated to acb as Scrutineers,, and were appoinlied. Miss L. Parker dnaw the marble, and the first luckynumber was 227., The owner having: more than one share, was declared' ■entitled to the sum of £300. Miss L. Parker again drew the marb!i&, the luck number this time being 897. The ownerhaving two siiares, was also declared entitled to the. sum of £300.

This ben'ng all the business, the meeting then closed.